When Companies Use Debit Cards for Purchases of Relatively Small

Multiple Choice

When companies use debit cards for purchases of relatively small amounts:

A) employees who need to make the purchases may obtain permission from a supervisor to use the company's debit card.
B) supervisors do not require receipts for the small purchases because prior approval was given.
C) a petty cash fund is still needed.
D) the employee who used the debit card compares the receipts to the EFT amounts on the bank statement.